CAC to debut electronic stamping of documents

In from Ali Smart …
The Corporate Affairs Commission (CAC) has concluded plans to partner with the Federal Inland Revenue Service (FIRS) to ensure the integration of e-stamping module into the Commission’s company registration portal (CRP).

The aim is to create a seamless registration process and further reduce time and cost of registration of companies and other post incorporation processes in the country. The Registrar-General Bello Mahmud gave this hint at the Nigerian Bar Association (NBA) conference in Abuja.

Justifying the need for this partnership, Mahmud said that the effort is part of major reforms in the Commission’s operations, making it possible for customers to pay for stamp duties and stamp their company registration documents electronically on the CAC Company Registration Portal (CRP).

Mahmud said that customers can stamp their documents on the CRP after completing their forms without manually taking them to the stamp duties office of the Federal Inland Revenue service.
He explained that the Company Registration Portal when fully developed will serve as a one-stop company’s registration software capable of handling the stamping of incorporation documents, some post incorporation filings and other matters without users stepping out of their homes or offices.

“The CRP has also eliminated the restrictions of time of the day and day of the week to transact business with the Commission,” he said, adding that customers can submit their registration applications at anytime including weekends and public holidays.

The Registrar-General said that the CAC is putting in place measures to create log-in details for each company that is registered by it.

The log-in details he said will ensure that only authorised persons have access to the company’s profile to enable the operators make changes in the portal. Such changes Bello Mahmud said would include change of directors, appointment of secretaries, and increase in share capital.
The objective he said is to prevent corporate hijack and to ensure that only the rightful people make changes to the company’s records.

Read also: CAC boss seeks tax harmonisation

The Registrar-General who had a cursory look at the Commission said that from its creation in 1990 to 2004, the Commission’s activities were manually done, while the post 2004 era witnessed automation of its services through the CAC online but with some limitation in user ability.

He said that the third phase which involved the deployment of a new software, the companies registration portal (CRP) has eliminated all the limitations and has commenced full online services for name reservation, registration of companies, Business Names and Incorporated Trustees “As we are seated here, you can log on to the portal , complete name reservation request form and make payment without you having to step out of this room,” he said.

The Registrar-General spoke exhaustively on the publication of the companies regulation 2012 which he said will avoid taking customers by surprise and enable them know the requirements for filing of all incorporation processes or application

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